Civic Intelligence

Faith Academy

990 • Fiscal year 2020 • EIN 82-3695813

Jun 01, 2019 to May 31, 2020 • Filed on Apr 26, 2021

Organization Profilewww.faithacademyiowa.org
1030 Cross Park AveIowa City, IA 52240

(319) 351-4860

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

93rd percentile

0.94x

Higher debt load relative to assets than 93% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

72nd percentile

0.23x

Higher debt load relative to revenue than 72% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

48th percentile

5.0%

Higher net margin than 48% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

51st percentile

$0

Higher top officer pay than 51% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

100th percentile

9752%

Faster asset growth than 100% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

94th percentile

134%

Faster revenue growth than 94% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Up

$183,633

Up $181,769 (+9752%) from 2019

Net Assets

Up

$10,648

Up $38,657 (+138%) from 2019

Liabilities

Up

$172,985

Up $143,112 (+479%) from 2019

Revenue And Expenses
Liabilities / Revenue72nd percentileNet Margin48th percentile

Revenue

Up

$765,986

Up $438,916 (+134%) from 2019

Expenses

Up

$727,329

Up $372,250 (+105%) from 2019

Net Income

Up

$38,657

Up $66,666 (+238%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth100th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$2.0M$1.5M$1.0M$500K$0-$500KAssets 2019: $1,864Liabilities 2019: $29,873Net Assets 2019: -$28,0092019Assets 2020: $183,633Liabilities 2020: $172,985Net Assets 2020: $10,6482020Assets 2021: $0Liabilities 2021: $0Net Assets 2021: $10,6482021Assets 2022: $604,933Liabilities 2022: $0Net Assets 2022: $604,9332022Assets 2023: $1,065,863Liabilities 2023: $0Net Assets 2023: $1,065,8632023Assets 2024: $1,520,834Liabilities 2024: $2,688Net Assets 2024: $1,518,1462024

Highlighted filing

2020

Assets$183,633
Liabilities$172,985
Net Assets$10,648
Open 2020 Filing

Operations Trend

Revenue Growth94th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2019: $327,070Expenses 2019: $355,079Net Income 2019: -$28,0092019Revenue 2020: $765,986Expenses 2020: $727,329Net Income 2020: $38,6572020Revenue 2021: $0Expenses 2021: $0Net Income 2021: $02021Revenue 2022: $1,207,307Expenses 2022: $874,919Net Income 2022: $332,3882022Revenue 2023: $1,376,055Expenses 2023: $915,125Net Income 2023: $460,9302023Revenue 2024: $1,689,001Expenses 2024: $1,236,718Net Income 2024: $452,2832024

Highlighted filing

2020

Revenue$765,986
Expenses$727,329
Net Income$38,657
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2019 to May 31, 2020
Signed
Apr 26, 2021
Return Version
2019v5.0
Gross Receipts
$765,986
Mission and Program Overview

Mission

The objective of faith academy shall be to provide a christ-centered education, in the form of formal daily instruction, to low-income students in the iowa city area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments-$100,000-
Cash and Non-Interest-Bearing Accounts$1,864$83,633▲ $81,769
Rtn Earn Endowment Incm Other Fnds$-28,009$10,648▲ $38,657
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$1,864$183,633▲ $181,769
Other Assets Total-$0-
Liabilities
Unsecured Notes Loans Payable-$109,900-
Other Liabilities$29,873$63,085▲ $33,212
Total Liabilities$29,873$172,985▲ $143,112
Net Assets / Fund Balance
Total Net Assets Fund Balance$-28,009$10,648▲ $38,657
Total Liabilities and Net Assets / Fund Balance$1,864$183,633▲ $181,769
Compensation and Service Providers
Top Officer Pay51st percentile

Board Members and Trustees

NameTitle
David AspreyPresident
Julie DancerVice President
Brandi RadcliffeDirector
Cynthia UkahDirector
Darice KeatingDirector
Greg GroveDirector
Jill SchlottDirector
Matt JohnsonDirector
Monique WashingtonDirector
Doug FernExecutive Director
Craig WeltSecretary
Richard HoeferTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$728,917
Program Service Revenue
$36,942
Investment Income
$127
Other Revenue
$0
All Other Contributions
$728,917
Change in Net Assets
$38,657
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$632,451
Other Expenses$94,878
Total Fundraising Expense$23,268
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$466,335$30,747$15,374$512,456
Other Employee Benefits$52,276$3,447$1,723$57,446
Payroll Taxes$35,103$2,315$1,157$38,575
All Other Expenses$24,110$1,591$2,289$27,990
Pension Plan Contributions$21,816$1,439$719$23,974
Insurance$7,793$514$257$8,564
Other Expenses$6,558$433$216$7,207
Office Expenses$6,083$401$201$6,685
Fees for Services Accounting$5,581$368$184$6,133
Information Technology$856$57$28$941
Total Functional Expenses$660,507$43,554$23,268$727,329
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Parkview Church$63,085
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 1A: Explanation of Delegated Broad Authority to Committee

“The board has 3 committees at present, Budget, Development and Accreditation. Any authority granted to committees is subject to approval by the Board of Directors.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“Form 990 is prepared by an independent certified public accountant who provides a draft to the Executive Director, Treasurer, and one additional director for review. Once approved by these three board members, the final draft is submitted to the full board for review prior to the board meeting at which a vote is taken to approve the signing and filing of Form 990.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“The conflict of interest policy is referenced before the board approves any major purchase, and reviews expenses to ensure that no prohibited transactions took place.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“The compensation for the Executive Director is reviewed and approved by the full board of directors, who utilize benchmarking data to assist in setting an appropriate compensation.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“The compensation for other officers and key employees is reviewed and approved by the full board of directors, who utilize benchmarking data to assist in setting an appropriate compensation.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Upon Request”

Filing and Contact Details

Filer

Filer Name
Faith Academy
EIN
82-3695813
Phone
3193514860
Address
1030 Cross Park Ave, Iowa City, IA 52240

Signing Officer

Name
Craig Welt
Title
Secretary
Signed
2021-04-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Craig Welt
Formed
2017
Legal Domicile
Ia
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
85

Preparer

Firm
EHM Girvan Inc
Address
4723 Canterbury Ct, Iowa City, IA 52245
Preparer
Kyle Galloway
Phone
3195302049
Supplemental Narrative

Additional Explanations

Determination of the number of volunteers reported in Part I.

“Volunteer numbers were determined via the Office Administrator's documentation of active volunteers and volunteer background checks performed.”

Raw XML AppendixShowing 400 of 469 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990/AccountantCompileOrReviewInd0false
IRS990/AccountsReceivableGrp/EOYAmt00
IRS990/ActivitiesConductedPrtshpInd0false
IRS990/ActivityOrMissionDesc0The objective of Faith Academy shall be to provide a Christ-centered education, in the form of formal daily instruction, to low-income students in the Iowa City area.
IRS990/AdvertisingGrp/TotalAmt00
IRS990/AllOtherContributionsAmt0728917
IRS990/AllOtherExpensesGrp/FundraisingAmt02289
IRS990/AllOtherExpensesGrp/ManagementAndGeneralAmt01591
IRS990/AllOtherExpensesGrp/ProgramServicesAmt024110
IRS990/AllOtherExpensesGrp/TotalAmt027990
IRS990/AnnualDisclosureCoveredPrsnInd0true
IRS990/BackupWthldComplianceInd0false
IRS990/BenefitsToMembersGrp/TotalAmt00
IRS990/BooksInCareOfDetail/PersonNm0Kyle Galloway
IRS990/BooksInCareOfDetail/PhoneNum03195302049
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt04723 Canterbury Ct
IRS990/BooksInCareOfDetail/USAddress/CityNm0Iowa City
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0IA
IRS990/BooksInCareOfDetail/USAddress/ZIPCd052245
IRS990/BusinessRlnWith35CtrlEntInd0false
IRS990/BusinessRlnWithFamMemInd0false
IRS990/BusinessRlnWithOrgMemInd0false
IRS990/CashNonInterestBearingGrp/BOYAmt01864
IRS990/CashNonInterestBearingGrp/EOYAmt083633
IRS990/ChangeToOrgDocumentsInd0false
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd0false
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt00
IRS990/CompDisqualPersonsGrp/TotalAmt00
IRS990/CompensationFromOtherSrcsInd0false
IRS990/CompensationProcessCEOInd0true
IRS990/CompensationProcessOtherInd0true
IRS990/ConferencesMeetingsGrp/TotalAmt00
IRS990/ConflictOfInterestPolicyInd0true
IRS990/ConservationEasementsInd0false
IRS990/ConsolidatedAuditFinclStmtInd0false
IRS990/CreditCounselingInd0false
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt0728917
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt0127
IRS990/CYOtherExpensesAmt094878
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt036942
IRS990/CYRevenuesLessExpensesAmt038657
IRS990/CYSalariesCompEmpBnftPaidAmt0632451
IRS990/CYTotalExpensesAmt0727329
IRS990/CYTotalFundraisingExpenseAmt023268
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt0765986
IRS990/DAFExcessBusinessHoldingsInd0false
IRS990/DecisionsSubjectToApprovaInd0false
IRS990/DeductibleArtContributionInd0false
IRS990/DeductibleNonCashContriInd0false
IRS990/DelegationOfMgmtDutiesInd0false
IRS990/DepreciationDepletionGrp/TotalAmt00
IRS990/Desc0Faith Academy provided a quality Christ Centered-Education to over 80 K-6th grade students, helping 73 to achieve proficiency in reading. Faith Academy graduated its first 6th grade class.
IRS990/DescribedInSection501c3Ind0true
IRS990/DisregardedEntityInd0false
IRS990/DistributionToDonorInd0false
IRS990/DocumentRetentionPolicyInd0false
IRS990/DonorAdvisedFundInd0false
IRS990/DonorRstrOrQuasiEndowmentsInd0false
IRS990/ElectionOfBoardMembersInd0false
IRS990/EmployeeCnt00
IRS990/EngagedInExcessBenefitTransInd0false
IRS990/ExpenseAmt0660507
IRS990/FamilyOrBusinessRlnInd0false
IRS990/FederalGrantAuditRequiredInd0false
IRS990/FeesForServicesAccountingGrp/FundraisingAmt0184
IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt0368
IRS990/FeesForServicesAccountingGrp/ProgramServicesAmt05581
IRS990/FeesForServicesAccountingGrp/TotalAmt06133
IRS990/FeesForServicesLegalGrp/TotalAmt00
IRS990/FeesForServicesLobbyingGrp/TotalAmt00
IRS990/FeesForServicesManagementGrp/TotalAmt00
IRS990/FeesForServicesOtherGrp/TotalAmt00
IRS990/FeesForServicesProfFundraising/TotalAmt00
IRS990/FeesForSrvcInvstMgmntFeesGrp/TotalAmt00
IRS990/ForeignActivitiesInd0false
IRS990/ForeignFinancialAccountInd0false
IRS990/ForeignGrantsGrp/TotalAmt00
IRS990/ForeignOfficeInd0false
IRS990/Form1098CFiledInd0false
IRS990/Form8282FiledCnt00
IRS990/Form8282PropertyDisposedOfInd0false
IRS990/Form8899Filedind0false
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt00.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt10.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt20.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt30.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt40.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt50.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt60.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt70.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt80.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt90.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt100.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt110.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt04.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt12.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt22.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt32.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt42.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt52.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt62.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt72.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt80.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt90.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt100.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt1117.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd7X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd8X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd9X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd10X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
IRS990/Form990PartVIISectionAGrp/OfficerInd4X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt100
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt110
IRS990/Form990PartVIISectionAGrp/PersonNm0Richard Hoefer
IRS990/Form990PartVIISectionAGrp/PersonNm1Craig Welt
IRS990/Form990PartVIISectionAGrp/PersonNm2David Asprey
IRS990/Form990PartVIISectionAGrp/PersonNm3Jill Schlott
IRS990/Form990PartVIISectionAGrp/PersonNm4Darice Keating
IRS990/Form990PartVIISectionAGrp/PersonNm5Greg Grove
IRS990/Form990PartVIISectionAGrp/PersonNm6Julie Dancer
IRS990/Form990PartVIISectionAGrp/PersonNm7Brandi Radcliffe
IRS990/Form990PartVIISectionAGrp/PersonNm8Monique Washington
IRS990/Form990PartVIISectionAGrp/PersonNm9Matt Johnson
IRS990/Form990PartVIISectionAGrp/PersonNm10Cynthia Ukah
IRS990/Form990PartVIISectionAGrp/PersonNm11Doug Fern
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/TitleTxt0Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt1Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt2President
IRS990/Form990PartVIISectionAGrp/TitleTxt3Director
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Director
IRS990/Form990PartVIISectionAGrp/TitleTxt11Executive Dir.
IRS990/Form990ProvidedToGvrnBodyInd0true
IRS990/FormationYr02017
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedInd0false
IRS990/FundraisingActivitiesInd0false
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt08
IRS990/GrantsToDomesticIndividualsGrp/TotalAmt00
IRS990/GrantsToDomesticOrgsGrp/TotalAmt00
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt0765986
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IncmFromInvestBondProceedsGrp/TotalRevenueColumnAmt00
IRS990/IndependentAuditFinclStmtInd0false
IRS990/IndependentVotingMemberCnt08
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/FundraisingAmt028
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt057
IRS990/InformationTechnologyGrp/ProgramServicesAmt0856
IRS990/InformationTechnologyGrp/TotalAmt0941
IRS990/InsuranceGrp/FundraisingAmt0257
IRS990/InsuranceGrp/ManagementAndGeneralAmt0514
IRS990/InsuranceGrp/ProgramServicesAmt07793
IRS990/InsuranceGrp/TotalAmt08564
IRS990/IntangibleAssetsGrp/EOYAmt00
IRS990/InterestGrp/TotalAmt00
IRS990/InventoriesForSaleOrUseGrp/EOYAmt00
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt0127
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0127
IRS990/InvestmentInJointVentureInd0false
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt00
IRS990/InvestmentsProgramRelatedGrp/EOYAmt00
IRS990/InvestmentsPubTradedSecGrp/EOYAmt00
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipBasisNetGrp/EOYAmt00
IRS990/LegalDomicileStateCd0IA
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingCashInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0The objective of Faith Academy shall be to provide a Christ-centered education, in the form of formal daily instruction, to low-income students in the Iowa City area.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt0-28009
IRS990/NetAssetsOrFundBalancesEOYAmt010648
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt00
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/FundraisingAmt0201
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0401
IRS990/OfficeExpensesGrp/ProgramServicesAmt06083
IRS990/OfficeExpensesGrp/TotalAmt06685
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt01723
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt03447
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt052276
IRS990/OtherEmployeeBenefitsGrp/TotalAmt057446
IRS990/OtherExpensesGrp/Desc0Utilities
IRS990/OtherExpensesGrp/Desc1Groceries
IRS990/OtherExpensesGrp/Desc2Counseling
IRS990/OtherExpensesGrp/Desc3Curriculum and Supplies
IRS990/OtherExpensesGrp/FundraisingAmt0431
IRS990/OtherExpensesGrp/FundraisingAmt1389
IRS990/OtherExpensesGrp/FundraisingAmt2300
IRS990/OtherExpensesGrp/FundraisingAmt3216
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0863
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1779
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2600
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt3433
IRS990/OtherExpensesGrp/ProgramServicesAmt013081
IRS990/OtherExpensesGrp/ProgramServicesAmt111815
IRS990/OtherExpensesGrp/ProgramServicesAmt29100
IRS990/OtherExpensesGrp/ProgramServicesAmt36558
IRS990/OtherExpensesGrp/TotalAmt014375
IRS990/OtherExpensesGrp/TotalAmt112983
IRS990/OtherExpensesGrp/TotalAmt210000
IRS990/OtherExpensesGrp/TotalAmt37207
IRS990/OtherLiabilitiesGrp/BOYAmt029873
IRS990/OtherLiabilitiesGrp/EOYAmt063085
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt015374
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt030747
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0466335
IRS990/OtherSalariesAndWagesGrp/TotalAmt0512456
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt01157
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt02315
IRS990/PayrollTaxesGrp/ProgramServicesAmt035103
IRS990/PayrollTaxesGrp/TotalAmt038575
IRS990/PensionPlanContributionsGrp/FundraisingAmt0719
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt01439
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt021816
IRS990/PensionPlanContributionsGrp/TotalAmt023974
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0Craig Welt
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0611600
IRS990/ProgramServiceRevenueGrp/Desc0Academic Tutition
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt036942
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt036942
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYBenefitsPaidToMembersAmt043790
IRS990/PYContributionsGrantsAmt0296218
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt062
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt072184
IRS990/PYProgramServiceRevenueAmt030790
IRS990/PYRevenuesLessExpensesAmt0-28009
IRS990/PYSalariesCompEmpBnftPaidAmt0239105
IRS990/PYTotalExpensesAmt0355079
IRS990/PYTotalRevenueAmt0327070
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt038657
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0-28009
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt010648
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0100000
IRS990ScheduleA/SchoolInd0X
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt063085
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Parkview Church
IRS990ScheduleD/TotalLiabilityAmt063085
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0A notice of non-discriminatory policy has not been published in a newspaper of general circulation or broadcast media because that is not the key way news/information is disseminated regarding Faith Academy. The non-discrimination policy is published on the homepage of the school's website www.faithacademyiowa.org
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Line 4 - Explanation of Records and Materials Not Maintained
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule E, Line 5 - Explanation of Organization Discrimination by Race
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The board has 3 committees at present, Budget, Development and Accreditation. Any authority granted to committees is subject to approval by the Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Form 990 is prepared by an independent certified public accountant who provides a draft to the Executive Director, Treasurer, and one additional director for review. Once approved by these three board members, the final draft is submitted to the full board for review prior to the board meeting at which a vote is taken to approve the signing and filing of Form 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The conflict of interest policy is referenced before the board approves any major purchase, and reviews expenses to ensure that no prohibited transactions took place.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The compensation for the Executive Director is reviewed and approved by the full board of directors, who utilize benchmarking data to assist in setting an appropriate compensation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The compensation for other officers and key employees is reviewed and approved by the full board of directors, who utilize benchmarking data to assist in setting an appropriate compensation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Upon Request
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Volunteer numbers were determined via the Office Administrator's documentation of active volunteers and volunteer background checks performed.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 1a: Explanation of Delegated Broad Authority to Committee
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Determination of the number of volunteers reported in Part I.
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0IA
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$183,633
Liabilities
$172,985
Net assets
$10,648
Revenue
$765,986
Expenses
$727,329
Net income
$38,657
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.52$0.00$1.52$1.69$1.24$0.45
2023Detailed filing. Detailed filing data is available for this year.$1.07$0.00$1.07$1.38$0.92$0.46
2022Detailed filing. Detailed filing data is available for this year.$0.60$0.00$0.60$1.21$0.87$0.33
2021Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.01$0.00$0.00$0.00
2020Detailed filing. Detailed filing data is available for this year.$0.18$0.17$0.01$0.77$0.73$0.04
2019Detailed filing. Detailed filing data is available for this year.$0.00$0.03$0.03$0.33$0.36$0.03